Homesellers near UK’s largest green spaces ask for huge premiums
We’ve seen lots of reports over the past few months of home buyers looking to move out of city centres, into larger homes with gardens, and room for an office.
But, this isn’t the whole story. A recent poll by Ipsos Mori found that living close to green spaces had become more important to 49% of respondents since lockdown.
This makes sense. Gardens make properties more expensive - both in upfront and maintenance costs - and they don’t have the other benefits of public green space, such as: being a meeting place for different households, a running track when gyms are closed, and a welcome escape from your house or flat.
Given this growth of interest in green spaces, GetAgent.co.uk, the estate agent comparison website, took a look at how much it would cost to move near to some of the largest public green spaces in the UK. The outcome is clear. If you want to live within walking distance of these parks, you’re likely to pay a premium.
Homesellers near Richmond Park ask for a huge £653,584 more than the Greater London selling price average (£490,495), with an average asking price of £1,144,079.
But, it’s not just a southern phenomenon. Homesellers near Bradgate Park in Leicestershire ask for an average £669,325 - £435,934 more than the average selling price for the county.
If you don’t want to compromise on access to green space, but are looking for something a bit more financially manageable, you’ll find smaller premiums on houses near Hardwick Park in Derbyshire (£83,500), and Gleniffer Braes Country Park in Renfrewshire (£76,479).
Of the largest green spaces in the UK, the only area where homesellers weren’t demanding a premium for the privilege of living within walking distance was Ferry Meadows Country Park in Cambridgeshire. Here you’ll actually pay on average £21,186 less than elsewhere in the county.
Co-founder and CEO of GetAgent.co.uk, Colby Short, commented: ‘It’s unsurprising that proximity to large parks and green spaces is increasingly seen as a key selling point for homes in this ‘new normal’ period.
Although a private garden is still popular for home buyers, many properties don’t come with this luxury. Parks and green spaces offer an alternative place to meet friends and family, have proven benefits for wellbeing, and come with the added benefit that it’s up to someone else to maintain it.’
Full table of data available on request. GetAgent.co.uk, (https://www.getagent.co.uk/), pulls data from all of the major portals which are then cross-referenced with the Land Registry using their proprietary algorithms and input from partner agents.